Accommodation and Food Services Earnings in West Virginia
This dataset tracks accommodation and food services earnings in west virginia over time.
Latest Value
2080549.00
Year-over-Year Change
15.22%
Date Range
1/1/1998 - 1/1/2025
Summary
The Accommodation and Food Services Earnings in West Virginia trend measures average weekly earnings for workers in the state's accommodation and food services industry. This data provides insights into economic conditions and labor market trends in a key service sector.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Accommodation and Food Services Earnings in West Virginia series tracks the average weekly earnings of employees in the state's hospitality and food service industries. This metric is used by economists and policymakers to assess the financial health and labor dynamics of a critical component of West Virginia's economy.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Quarterly Census of Employment and Wages program.
Historical Context
Trends in accommodation and food services earnings offer valuable context for understanding consumer spending, tourism activity, and the broader service-sector labor market in West Virginia.
Key Facts
- West Virginia's accommodation and food services sector employs over 90,000 workers.
- Average weekly earnings in this industry are approximately 60% of the statewide average wage.
- Earnings in the West Virginia accommodation and food services sector have grown by 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Accommodation and Food Services Earnings in West Virginia trend measures the average weekly earnings of employees in the state's hospitality and food service industries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the financial health and labor dynamics of a critical service sector in West Virginia's economy, which is important for understanding consumer spending, tourism activity, and broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Quarterly Census of Employment and Wages program.
Q: How is this trend used in economic policy?
A: Trends in accommodation and food services earnings offer context for policymakers and economists analyzing consumer spending, tourism, and the service-sector labor market in West Virginia.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and revision practices of the U.S. Bureau of Labor Statistics' Quarterly Census of Employment and Wages program.
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Citation
U.S. Federal Reserve, Accommodation and Food Services Earnings in West Virginia (WVEACC), retrieved from FRED.